Brazil Interest Rate

Last Release

Nov 06, 2024

Actual

11.25

Units In

10.75

Frequency

Daily

Next Release

Dec 11, 2024

Time to Release

1 Months 2 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
45 Mar 1999	2 Aug 2020	13.85 %	1999-2024	N/A

In Brazil, interest rate decisions are taken by The Central Bank of Brazil's Monetary Policy Committee (COPOM). The official interest rate is the Special System of Clearance and Custody rate (SELIC) which is the overnight lending rate.

Latest Updates

The Central Bank of Brazil hiked its Selic rate by 50 bps to 11.25% in its November 2024 meeting, aiming to bring inflation back to target and support economic stability. The Committee highlighted risks of higher inflation, driven by persistent inflation expectations, resilient services inflation, and both domestic and global economic policies. On the downside, a sharper global slowdown and stronger-than-expected disinflation are key concerns. Domestically, while economic activity and the labor market remain robust, inflation has recently exceeded targets. Inflation expectations for 2024 and 2025 are 4.6% and 4.0%, respectively, with the Copom's projection for Q2 2026 at 3.6%. Policymakers indicated that future rate adjustments will depend on inflation trends and evolving risk factors.